http://www.firstpost.com/business/left-out-dalal-st-cheers-for-while-9489.htmlWhen 2004 general election results were announced, it handed out a shocking victory to the Congress Party and its allies. “Bhaad mein jaaye Sensex (Sensex can go to hell),” said A Bardhan, Communist Party of India leader. The stock market took a serious note of Bardhan’s dramatic comment in 2004. A dramatic fall in share prices was witnessed the following Monday.
Cut to 13 May 2011.
With clear signs emerging of the Left Front voted out of power in Bengal and Kerala, the stock market was celebrating. The BSE sensex rose 362 points or 2% and so did NSE Nifty. Towards the close of trading, the BSE sensex shed half of those gains indicating that there are more headwinds. The rally towards the day’s high was like a momentary applause.
The street looks at the electoral victory as a sweet one but perhaps thinks that there is a long way to go.
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